BMW EV sales rise but Q2 sales decline

BMW EV sales rise:- BMW a renowned German luxury automobile manufacturer has reported a 1.3 per cent year-on-year (YoY) decrease in sales for the second quarter of 2024. It reported a total vehicle deliveries amounting to 618,826 units after the decline. Despite this dip in sales in Q2, the company recorded a growth in sales of their battery-electric vehicles (BEVs), which rose by 22.2 per cent to reach 107,933 units from April to June.

China is the largest market for BMW.  The auto manufacturer has recorded a 4.7 per cent decline in sales, which totals up to 188,495 vehicles. In its domestic market of Germany, a fall in sales was recorded by 11.5 per cent, which amounts to 68,351 cars. On the other hand, the US market saw a decent rise of 1.7 per cent. Here the sales reached 97,135 vehicles during the same period.

BMW delivered  179,557 fully electric vehicles in this quarter. They managed to have a significant gain in market share in Europe. The increase in battery-electric vehicle (BEV) sales has reflected the manufacturer’s ongoing efforts to expand its electric vehicle portfolio among the growing global demand for sustainable mobility solutions. This rise also defines the company's strategic plans to meet stringent emissions regulations.

Despite the challenges due to the fluctuating market conditions, BMW remains positive about the future. A spokesperson said, “The company aims to focus on innovation and product diversification, aiming to strengthen its market position and drive sustained growth in the evolving automotive landscape,”

In total, the BMW Group has delivered more than 1.2 million units globally, including vehicles from BMW, Mini, and Rolls Royce in the first half of the year. A spokesperson said, “ The models from the upper premium segment are becoming increasingly popular with customers, in addition to fully-electric models,”

(with Reuters input)